Make sure you also look at the peripheral costs of getting into this
house - moving, furniture, curtains, wallpaper, decor, etc. Sometimes
these things can go through cash in a hurry. Also, make sure you have
immediate cash on hand in case you get downsized. IF you are forced to
sell (hopefully this will never happen), Assist-to-Sell (I have no
affiliation) will list it for $2995 - NOT 6% commission. Don't let
realtors eat up all your equity! If you can afford it and make it
work, GO FOR IT! -- Good Luck and Best Wishes!!

Last year 300K home now is 350K here.

If I save 60K in 2 years I will not be able buy the same house for at
least 450K if I dont buy it now.

The house we are going to buy easily worth 400K. But it will be bulit
in 8-9 months. By the time we can save another 25K. This is the only
lot available in whole city for that price and it is a real deal.

I plan to leave if I get a good better salary somewhere else I should
be able to sell the home.

Even with these reasons if something goes wrong.

My Job, Health, etc. I know we cant sell the house in a hurry and
loose money.

I may loose this dream. But the peace of mind worth a million.